Forte Biosciences Target of Unusually High Options Trading (NASDAQ:FBRX)

Forte Biosciences, Inc. (NASDAQ:FBRX) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 30,205 call options on the company. This is an increase of approximately 1,663% compared to the typical daily volume of 1,713 call options.

Forte Biosciences Price Performance

NASDAQ FBRX opened at $19.44 on Thursday. The company has a market capitalization of $28.42 million, a price-to-earnings ratio of -1.19 and a beta of 1.13. The firm’s fifty day moving average price is $16.60 and its 200 day moving average price is $7.69. Forte Biosciences has a 12 month low of $4.11 and a 12 month high of $28.68.

Insider Activity at Forte Biosciences

In related news, CFO Antony A. Riley bought 22,514 shares of the stock in a transaction dated Thursday, November 21st. The shares were acquired at an average cost of $5.55 per share, for a total transaction of $124,952.70. Following the acquisition, the chief financial officer now directly owns 30,776 shares in the company, valued at approximately $170,806.80. This trade represents a 272.50 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Chardan Capital reiterated a “buy” rating and set a $64.00 price target on shares of Forte Biosciences in a report on Wednesday, December 4th.

Forte Biosciences Company Profile

Forte Biosciences, Inc operates as a biopharmaceutical company in the United States. The company is developing FB-102 program that addresses various autoimmune diseases, such as graft-versus-host disease, and vitiligo and alopecia areata. Forte Biosciences, Inc is headquartered in Dallas, Texas.